Is Benton, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Benton has remained a Seller's Market.
Key Takeaway
Benton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Benton, IL
How much do homes in Benton, IL cost?
Median Sold Price
$90,500
$61/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Benton have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Benton was $90,500 in April 2024, up 1.7% from last year, and the median price per square foot was $61.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $35K | $27.1K | -22.4% |
| 2 Bedrooms | $59.9K | $62.5K | +4.3% |
| 3 Bedrooms | $111K | $114.5K | +3.2% |
| 4 Bedrooms | $123K | $139.5K | +13.4% |
| 5+ Bedrooms | $148.6K | $232.5K | +56.5% |
Summary: Benton housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.4%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 56.5%.
Median Sold Price Compared To Nearby Cities
| Benton | $89K | $90.5K | +1.7% |
| Benton Township | $93.5K | $91K | -2.7% |
Housing Supply in Benton, IL
How many homes are available in Benton, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 53 | 49 | -7.5% |
Summary: The Benton real estate market had 49 homes for sale in April 2024, a 7.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 14 | 0.0% |
| 3 Bedrooms | 30 | 28 | -6.7% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Benton housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 12 | +50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Benton, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Benton in April 2024, up by 50.0% month-over-month. Of the 12 sold homes, 33% were sold under asking, 8% were sold at asking, and 58% were sold over asking.
Days on Market for Benton, IL
How long does it take to sell a home in Benton, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 44 Days | -7.6% |
Summary: Homes in Benton had an average of 44 days on market in Apr 2024, down by 7.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Benton are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 12 homes were sold in Benton; 58% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.